iOS app Android app

Greek Debt

IOU 240 Euros, It's My Problem; IOU 240 Billion Euros, It's Your Problem!

Terry Connelly | Posted 02.18.2015 | Business
Terry Connelly

The first thing to know is that nobody should sell or buy a lot of US stocks or bonds because of the unfolding late-inning melodrama between the new g...

Greek Debt Talks Break Down

Reuters | Posted 02.16.2015 | World

By Renee Maltezou and Jan Strupczewski BRUSSELS, Feb 16 (Reuters) - Talks between Greece and euro zone finance ministers over the country's debt br...

Greece Braces For Talks With Germany Amid Market Relief

AP | DEREK GATOPOULOS and COLLEEN BARRY | Posted 02.03.2015 | World

ATHENS, Greece (AP) — Greece's new anti-bailout government confirmed it will hold meetings with lead lender — and critic — Germany this week aft...

The Greek Elections and European Absurdity

Kostas Vergopoulos | Posted 02.02.2015 | World
Kostas Vergopoulos

If there is one thing that has poisoned the European economy after the 2008 crisis, it is the German idea that a purge comes before a recovery.

Merkel Rules Out Another Greek Debt Cut

AP | Posted 01.31.2015 | World

BERLIN (AP) — German Chancellor Angela Merkel has underlined the refusal of Greece's European creditors to consider forgiving part of the debt-ridde...

A Break in the Greek Tragedy

Robert Kuttner | Posted 01.26.2015 | Politics
Robert Kuttner

Europe should count itself lucky that a leftwing anti-austerity party won the Greek elections, swept into office by citizens who've had enough. Elsewhere in Europe, seven years of stupid, punitive, and self-defeating austerity policies have led to gains by the far right. If a radical left party is now in power in Athens and sending tremors through Europe's financial markets, the EU's smug leaders and their banker allies in Frankfurt, Brussels and Berlin have only themselves to blame. Alexis Tsipras, leader of the winning Syriza coalition, says he doesn't want Greece to leave the Euro. He just wants Europe's leaders to renegotiate Greece's debt. It's about time. This crisis could have ended years ago with far less suffering for ordinary people who had no responsibilities for the offending policies. Greece, after all, has about two percent of the EU's total economic product -- and it has about 25 percent less than it had before the crisis. Writing off Greece's debt outright would have cost peanuts, and still would.

The Sovereign Debt of Greece Remains a Contentious Issue

Nicos E. Devletoglou | Posted 02.09.2015 | World
Nicos E. Devletoglou

The multiple admonishments between Athens and its increasingly hardline partners in Europe in recent days are out of place -- even as part of a high-stakes game testing contrasting approaches to dealing with Greece's bulging debt.

Les Miserables of Greece

Justine Frangouli-Argyris | Posted 04.22.2013 | World
Justine Frangouli-Argyris

Yesterday's prosperous citizens require international humanitarian assistance and a strong support from the Greek-American community at large. The Greek government and its European allies cannot pretend that nothing is amiss anymore.

The Greek Lesson

Evaggelos Vallianatos | Posted 02.11.2013 | World
Evaggelos Vallianatos

Recreating feudalism is not an option, especially in Europe and America. The Greeks would fight to the death defending their country. In addition, neither civilized societies nor the Earth can afford the policies the troika is pushing in Greece.

Debt Forgiveness Is Inevitable and Will Save the Euro

Elena Panaritis | Posted 02.05.2013 | World
Elena Panaritis

Austerity has made it difficult for Greece to meet its fiscal targets, as well as its structural reforms. This is why anything short of debt forgiveness and more bailout funds is only a way for Europe to buy a little bit of time but at a huge price.

Euro Zone Reaches Greek Debt Deal

Reuters | Posted 01.26.2013 | Business

* EU-IMF agree on cutting Greek debt-to-GDP level * Aim is to reduce Greek debt to 124 percent of GDP by 2020 * Interest...

Eurozone Insists Greece Accept Six-Day Workweek

Posted 09.04.2012 | Business

Greece’s debt crisis could take a toll on its weekends. In exchange for a second bailout, Greece’s creditors are demanding that the country’...

French President: 'There's No Time To Lose'

Reuters | Posted 10.25.2012 | Business

* Samaras says Greece determined to stay in euro * Hollande says Greece must show commitment to reform * German finmin r...

Greece Sells Islands, Highways, Planes In Fire Sale To Pay Down Debt

The Huffington Post | James Sunshine | Posted 06.21.2012 | Business

When governments announce that the sale of assets, they usually mean industries and companies owned and operated by the state. Greece has something sl...

The Day That Greece Rescued Europe

Montserrat Domínguez | Posted 08.19.2012 | World
Montserrat Domínguez

The Greeks have deactivated the switch that threatened to blow Europe sky high. Antonis Samaras's New Democracy party victory in Greece does not in and of itself solve Athens' problems, nor those plaguing the rest of Europe's capitals. The boxer is still on the ropes, but the bell has been rung, ending the round; and that gives Europe time to recover, though it will have to keep fighting. In addition this week, if seen as part and parcel to what happened in Greece, the result of France's legislative elections and the majority that President Hollande now boasts both act as a serious warning to Angela Merkel in Germany. The message is clear: we are willing to go forward, but the pernicious austerity strategy that is pushing us into the abyss must be reconsidered.

Greek Respite Leaves Euro Problems Unchanged

Theresa Bradley | Posted 06.19.2012 | World
Theresa Bradley

For European leaders, the central challenge is bigger, and has been mounting for years: How to stabilize a single monetary union that allows for 17 different fiscal policies

Three Big Questions for the Greek Elections

Mohamed A. El-Erian | Posted 08.16.2012 | Business
Mohamed A. El-Erian

Whichever way you look at it, Sunday's election in Greece entails major uncertainties. What is clear is that, by itself, the outcome is very unlikely to immediately end turmoil and uncertainty. Indeed, even a simplified analysis entails many permutations and combinations.

Euro 'Is A Bloody Doomsday Machine'

AP | MATTHEW CRAFT | Posted 08.15.2012 | Business

NEW YORK — The unthinkable suddenly looks possible. Bankers, governments and investors are preparing for Greece to stop using the euro as its c...

Some Greek Employees Work Without Getting Paid

The Huffington Post | Bonnie Kavoussi | Posted 06.14.2012 | Business

A growing number of Greek workers are facing a stark choice: Work for no pay, or risk never getting paid again. An increasing number of Greek compa...

Greece and the Euro: Fifty Ways to Leave Your Lover

Ellen Brown | Posted 08.11.2012 | Business
Ellen Brown

The euro appears to be a marriage of incompatible partners. Fortunately, there are alternatives to an ugly divorce. Rules that can be bent for banks can be bent for people and nations.

Which Road for Europe?

Robert Kuttner | Posted 08.11.2012 | Business
Robert Kuttner

Angela Merkel's increasing isolation among European leaders should increase the chances that the austerity mongers may yet relent. But Merkel, thus far, shows no sign of moderating her stance.

Why Europe's "Technocrati" Can't Do it All

Chris Brummer | Posted 08.06.2012 | Business
Chris Brummer

Inconvenient truths point to the fact that spurring on the technocrats may help, but eventually the politics of Europe itself have to change.

The Greece I Know

Tatiana Karapanagioti | Posted 08.05.2012 | World
Tatiana Karapanagioti

I never cease to be amazed at the contrast between the Greece that I read about in foreign newspapers and the Greece that I've known since childhood -- the Greece in which I live today.

Austerity: 2011's Darling Becomes 2012's Pariah

Arianna Huffington | Posted 07.29.2012 | Business
Arianna Huffington

There's a new scarlet letter in town. Actually, it's the same letter -- "A" -- but it stands for a different word that's increasingly regarded as shameful: Austerity. The darling idea of 2010 and 2011 has become the pariah concept of 2012. And the evidence of profound change is all around, from France and Greece to Germany and -- gasp -- the Republican Party. The change, when it comes to the conventional wisdom on austerity, has come from a combination of public pressure and leadership: one pushing up from below, the other pressing down from above. None of this means that we should break out the Keynesian champagne any time soon. But it's clear the forces of austerity are in retreat. And that's a very good thing.

My Proud Bankrupt Greek Soul

Ioannis Pappos | Posted 07.29.2012 | Gay Voices
Ioannis Pappos

By 2010, I decided to spend some time writing in Greece. I had open accounts to settle there -- family, friends, closets. What I hadn't planned though was that it's hard to settle with the already bankrupt. I landed in a suicidal country itself deeply in the closet financially, morally, even sexually.